Utah Stock Option Plan of WSFS Financial Corporation

• Category: Corporations - Public - Stock Options
• State: Multi-State
• Control #: US-CC-18-352B
• Format: Word; Rich Text

Description

18-352B 18-352B . . . Stock Option Plan under which committee appointed by Board of Directors can grant (a) Incentive Stock Options, (b) Non-qualified Stock Options, (c) Stand-alone or Tandem Stock Appreciation Rights, and (d) Phantom Stock (which entitles recipient to receive in cash when share vests, an amount equal to sum of (x) fair market value of a share of stock on date when such share of Phantom Stock vests and (y) aggregate amount of cash dividends paid with respect to a share of stock during period between date share of Phantom Stock was granted and date on which such share vests). Committee has broad discretion at time of making Phantom Stock awards to impose conditions that must be satisfied in order for Phantom Stock to become vested The Utah Stock Option Plan of WSFS Financial Corporation is a comprehensive program that offers employees of WSFS Financial Corporation located in Utah the opportunity to participate in the company's long-term growth and success. This plan allows eligible employees to purchase company stock at a predetermined price, known as the strike price, within a specified time frame. One of the primary objectives of the Utah Stock Option Plan is to align the interests of employees with the success of WSFS Financial Corporation. By granting stock options, the company aims to foster employee loyalty, motivation, and a sense of ownership in the organization. The plan enables employees to share in the value they help create by providing them with an additional opportunity for financial growth beyond their regular compensation. The Utah Stock Option Plan encourages employees to contribute to the long-term profitability of WSFS Financial Corporation by granting them the right to buy company stock at a discounted price. This discounted price is generally set at the market value of the stock on the date the options are granted. There are different types of stock options available under the Utah Stock Option Plan: 1. Non-Qualified Stock Options (Nests): These options offer employees the ability to purchase company stock at a predetermined price, regardless of its current market value. Nests are generally subject to tax obligations at the time of exercise. 2. Incentive Stock Options (SOS): SOS are designed to provide additional tax advantages to employees. If certain requirements are met, employees may be eligible for favorable tax treatment upon exercising their options. SOS often have specific holding periods before the stocks can be sold in order to qualify for these benefits. 3. Restricted Stock Units (RSS): RSS represent a promise to deliver company stock to employees at a future date. Unlike options, RSS do not require employees to purchase stock outright. Instead, the company awards RSS as a form of compensation, which then convert into actual shares of company stock over time. The Utah Stock Option Plan of WSFS Financial Corporation aims to attract and retain talented employees by providing them with an additional incentive to contribute to the company's growth. It offers a variety of options to suit different employee needs and preferences, creating a sense of shared success and alignment between the employees and the corporation.

The Utah Stock Option Plan of WSFS Financial Corporation is a comprehensive program that offers employees of WSFS Financial Corporation located in Utah the opportunity to participate in the company's long-term growth and success. This plan allows eligible employees to purchase company stock at a predetermined price, known as the strike price, within a specified time frame. One of the primary objectives of the Utah Stock Option Plan is to align the interests of employees with the success of WSFS Financial Corporation. By granting stock options, the company aims to foster employee loyalty, motivation, and a sense of ownership in the organization. The plan enables employees to share in the value they help create by providing them with an additional opportunity for financial growth beyond their regular compensation. The Utah Stock Option Plan encourages employees to contribute to the long-term profitability of WSFS Financial Corporation by granting them the right to buy company stock at a discounted price. This discounted price is generally set at the market value of the stock on the date the options are granted. There are different types of stock options available under the Utah Stock Option Plan: 1. Non-Qualified Stock Options (Nests): These options offer employees the ability to purchase company stock at a predetermined price, regardless of its current market value. Nests are generally subject to tax obligations at the time of exercise. 2. Incentive Stock Options (SOS): SOS are designed to provide additional tax advantages to employees. If certain requirements are met, employees may be eligible for favorable tax treatment upon exercising their options. SOS often have specific holding periods before the stocks can be sold in order to qualify for these benefits. 3. Restricted Stock Units (RSS): RSS represent a promise to deliver company stock to employees at a future date. Unlike options, RSS do not require employees to purchase stock outright. Instead, the company awards RSS as a form of compensation, which then convert into actual shares of company stock over time. The Utah Stock Option Plan of WSFS Financial Corporation aims to attract and retain talented employees by providing them with an additional incentive to contribute to the company's growth. It offers a variety of options to suit different employee needs and preferences, creating a sense of shared success and alignment between the employees and the corporation.